The notoriously volatile cryptocurrency bitcoin has fallen to its lowest price this month after rallying in the first week of November and then crashing by more than $1,000 on Thursday and Friday.
The price of a single bitcoin is down 4.53 per cent at $6,272.24, according to Coindesk's aggregate index, a level it hasn't reached since the end of October.
Bitcoin surged to an all-time high of almost $7,900 on Wednesday, before dropping by more than $1,000 in 48 hours.
The surge was prompted by the suspension of a software upgrade that could have split bitcoin into what's called a "fork".
The most recent slump came as some traders dumped it for a clone called bitcoin cash, which has seen its value soar in the last few days: it's price is now up by 54 per cent to $1,247.
While I am extremely upset over what transpired to Bitcoin within 48 hours, I am hopeful it will bounce back again soon! My plan is to convert my Bitcoin to fiat once it reaches at least $7,500. What has gone wrong is literally out of our control. We just have to be steadfast in achieving our goals.
I have a question, though. Do you think it will rise again sooner than expected? If so, then, it is just a cycle of up and down.